Uber's net loss widens to $4.5 billion for tumultuous 2017

Ride-hailing giant Uber's full-year net loss widened to $4.5 billion in 2017 as the company endured a tumultuous year that included multiple scandals and the replacement of its CEO.

The results also showed that Uber cut its fourth-quarter net loss by 25 percent from the third quarter as its new CEO moves to make the company profitable before a planned public stock sale sometime next year.

The full-year loss grew from $2.8 billion in 2016, but that year was skewed by a gain from the sale of Uber's business in China. Uber also said its U.S. ride-hailing market share fell from 82 percent at the start of last year to 70 percent in the fourth quarter. The company said the market share has now stabilized.